Adjusted operating profit in the first quarter fell 11 percent from a year ago to 218 million euros ($266 million), compared with analysts’ average forecast of 212 million euros in a Reuters poll.

The Finnish company said it expected sales to grow 3-7 percent this year at comparable exchange rates but core operating profit to be in the range of 1.10-1.20 billion euros, compared with 1.21 billion euros in 2017.